Overview
- Rambus shares, which fell about 18% in Tuesday premarket trading, slid after results matched guidance instead of clearing the high bar set by a month-long rally.
- The company reported adjusted earnings of $0.63 per share and revenue of $180.19 million, figures that were roughly in line with Wall Street estimates after a 64% run-up in the stock over the prior month.
- For the second quarter, Rambus guided revenue to $190 million to $208 million, a broad range with a midpoint near $199 million that offered little upside and left investors with less near-term clarity.
- Analyst views split after the release, with Baird downgrading the stock to Neutral at a $120 target while William Blair, Jefferies and Rosenblatt kept positive ratings and flagged low double‑digit CPU server shipment growth as a conservative baseline that could improve.
- Several firms raised price targets despite the selloff, including Evercore ISI to $172, Rosenblatt to $150 and Wells Fargo to $145, while investors also weighed recent insider sales and the launch of SOCAMM2, a low‑power LPDDR5X server memory module that could drive AI‑linked demand later this year.